TEB: FROM PAST TO PRESENT
TEB (the “Bank”) was initially founded under the title of Kocaeli Halk Bankası T.A.Ş. in Izmit in 1927. The Bank was acquired by the Çolakoğlu Group in 1982 and renamed “Türk Ekonomi Bankası A.Ş.”, and its head office was moved to Istanbul.
Having focused on foreign trade finance and investment banking during the 1980s, TEB shares were offered to the public in February 2000. The Bank’s shares began trading under the TEBNK ticker in the National Market of the Istanbul Stock Exchange on December 31st, 2013. TEB shares are also listed on the depository receipt market of the London Stock Exchange.
On February 10th, 2005, TEB signed a partnership agreement with BNP Paribas, one of the leading banks in the Eurozone and the 7th largest in the world by year 2012, operating in 78 countries. By entering cooperation with BNP Paribas, one of the most prestigious brands in the international markets, TEB was able to carry its global vision further.
As the BNP Paribas Group acquired a majority stake in Fortis Bank Belgium and Fortis Bank Luxemburg, the Group became the principal shareholder of Fortis Bank Turkey (Fortis Bank) in 2009. Consequently, BNP Paribas and the Çolakoğlu Group, the indirect majority shareholders in TEB, entered a memorandum of understanding, whereby TEB and Fortis Bank were to be merged. The two banks were legally merged on February 14th, 2011.
Following the merger, TEB Holding remained the majority shareholder in TEB with a 55% share, while BNP Paribas Group and the Çolakoğlu Group will each continue to hold 50% of TEB
By capitalizing on the global organization and expertise of the BNP Paribas Group, TEB offers its customers a wide array of financial products and services, including Corporate, SME, Personal and Private Banking, and Treasury and Capital Markets services, as well as investment, leasing, factoring, insurance and asset management.
At the end of 2013, TEB was serving its 5 million customers through:
Relying on the strength of its partner, BNP Paribas, and the support of the BNP Paribas organizations in 78 countries, TEB enables its customers to benefit from the global vision and the facilities of BNP Paribas. The synergic cooperation established with BNP Paribas allows TEB to continuously maintain a close view of developments in the global market.
* Up to date information about TEB Shares can be found at the following website: www.teb.com.tr